Wealthfront Advisers LLC Cuts Holdings in KKR & Co. Inc. $KKR

Key Points

• Wealthfront Advisers LLC cut its KKR stake by 49.9% in the first quarter, leaving it with 28,874 shares valued at about $2.67 million.
• Despite some mixed moves by institutions, hedge funds and other institutional investors still own 76.26% of KKR’s stock, and analysts remain broadly positive with a Moderate Buy rating and an average target price of $128.58.
• KKR recently raised its quarterly dividend to $0.195 per share and authorized a $500 million stock buyback, while an executive vice president also sold 30,000 shares in July.

Wealthfront Advisers LLC decreased its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 49.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,874 shares of the asset manager's stock after selling 28,725 shares during the period. Wealthfront Advisers LLC's holdings in KKR & Co. Inc. were worth $2,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Washington Trust Advisors Inc. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. SouthState Bank Corp boosted its position in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in KKR & Co. Inc. during the fourth quarter valued at about $29,000. Finally, MV Capital Management Inc. bought a new stake in KKR & Co. Inc. during the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KKR. HSBC boosted their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Oppenheimer cut their price objective on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating on the stock in a research report on Friday. Royal Bank Of Canada reduced their price objective on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Finally, Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $128.58.

KKR & Co. Inc. Trading Down 4.0%

KKR & Co. Inc. stock opened at $96.87 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $86.98 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. The stock has a 50-day moving average of $95.42 and a two-hundred day moving average of $101.12. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion for the quarter. On average, research analysts anticipate that KKR & Co. Inc. will post 5.58 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is presently 26.53%.

KKR & Co. Inc. announced that its board has approved a stock buyback program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the sale, the executive vice president owned 127,868 shares of the company's stock, valued at approximately $7,518,638.40. The trade was a 19.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.20% of the company's stock.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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